Planning a budget-friendly trip is an art but paying attention to a few tips and tricks can save money while traveling. Some crucial points cannot only help you save a buck but can also warn you against some avoidable hassles during a trip. Many travelers while planning their excursion often ignore the need for travel insurance. Transportation takes the bulk of a vacation’s budget; travel experts suggest that certain adjustments can help you cut other costs.

One of the key points that can save money is purchasing one of the best overseas travel insurance plans well ahead of time. There is a popular outlook among the masses that travel insurance is expensive. Here we bring you seven tips on how you can save money while selecting overseas travel insurance plan and therefore while traveling.

1.Never buy overseas travel insurance without proper research. This may not seem such an important step but can actually save you a lot of money. Often we opt for travel insurance on the travel-booking site itself or through the travel agent, which might be a quicker and easier option but surely not a smart one. Insurance experts advise that you must check online for the best overseas travel insurance plans, this way you can select the best plan that suits your needs. Another benefit of finding and choosing your travel insurance is that you can compare the best overseas travel insurance plans available. Different policy providers have differently designed travel insurance plans, when you study and compare these plans you can identify or even customize a plan that not only provides you a great cover but also helps save some money.

2.Don’t include refundable trip costs in your travel insurance. While purchasing a travel insurance plan, you might opt for including all your booking payments under the cover. This is a step that should be avoided as it hikes up your premium amounts unnecessarily. Bookings that are refundable need not be included in the insurance because as the name suggests, these bookings are refundable. Instead, you can cover only the non-refundable bookings to reduce the premium amount or include various other inclusions that you might have been excluding in the earlier higher premium. In other words, include the bookings, which can lose you money and about which you are not completely sure, must be included in a travel insurance plan.

3.Avoid over-insuringIt can be our first instinct to get everything insured when buying an overseas insurance plan. But it is essential to note that this would definitely make your travel insurance expensive. While it is necessary for you to insure yourself and your family members, insuring all possible valuable items you could be carrying with you might not be a pocket-friendly idea. Also, pay attention to the sub-limits stipulated by the policy providers for valuable items and emergencies such as medical evacuation. You should opt for a comprehensive but tight cover. If the entire trip is costing around Rs. 60,000, the travel insurance policy should not amount to costs higher than that at all.

4.Consider the terms and list of exclusions carefullyThe process to buy one the best overseas travel insurance plans is not a task to be taken lightly. With an array of travel insurance plan available today and each with its own set of terms and conditions, the whole task can become intimidating. Before making the purchase, make sure that you read and understand the terms of policy and exclusions under the policy carefully. Certain policies consider some pre-existing medical conditions a ground for rejection for medical evacuation, whereas some policies have a specific excess and reimbursement ratio. For instance, if you know you would not be renting a vehicle while on the trip, it makes no sense to include such provisions in the inclusions of the policy. Keeping these in mind will help you select the best policy and save some money.

5.Check for riders available on your existing policies.Many policy providers are coming up with riders that can be added to your existing health insurance policy. These riders are much more affordable and you can ask for even a fresh overseas travel insurance plan at a discounted price from your existing policy provider. This will help you get maximum cover while spending a lesser amount of money as compared to what you would be paying at a travel-destination website. In case of riders, your policy provider already has access to your verified medical history and hence the new overseas travel insurance cover comes into force almost immediately.

6.Single trip cover vs. multi-trip cover. For a frequent traveler, opting for a multi-trip cover would prove to be more affordable just like a frequent flier. While you contemplate over the best overseas travel insurance plans, always consider the frequency of your travel as this can help you save money too.

7.Plan ahead. It is a well-known fact that when booking a trip, the sooner you book your travel and stay, the more you save. Well, the same can be said about the best overseas travel insurance plans, not because their rates fluctuate but because if you plan the travel insurance with ample time at hand, you get more time for research. The more you read about your destination, the more you understand the needs and requirements of the country. It also gives you time to compare amongst the best overseas travel insurance plans and select the most affordable plan that gives you maximum desired cover.

Some people attribute travel insurance as an expense that can be avoided but what we fail to understand that this is more than just insurance. The best overseas travel insurance plans ensure that they are not only affordable but also help you recover losses or expenses due to any cancellations or other unexpected events and save money. Hence when you look at the bigger picture travel insurance is an investment you make to safeguard your payments and enjoy a stress-free and hassle-free trip.